This indicator simply adds Bollinger Bands to the RSI. The Bollinger Bands are more dynamic than simple 30 or 70 horizontal lines and work better in many situations. I've found that a good time to buy is when the RSI dips below the lower band, then pulls back above. A good time to sell, though less reliable, is when the RSI climbs above the upper band, then dips back below.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules.
You can favorite it to use it on a chart.
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